Due to President Trump's trade war, many businesses are moving their operations away from China. This shift is known as friend-shoring or re-shoring.
• Wyze Labs, a Seattle-based company known for its smart home products, revealed their first tariff bill that was unexpectedly high, leading them to expedite plans to leave China within two months and consider relocating their manufacturing to the U. S.
• Wyze mentioned that their tariff for importing $167,000 worth of floodlights was $255,000, which surpassed the earnings of their founders last year.
• The company has been planning to move manufacturing for over a year but is now accelerating these efforts due to the tariffs.
• Wyze humorously noted the challenge of powering an assembly line in Seattle's rainy environment as they seek to bring manufacturing back home.
• Eli Lilly's CEO recently indicated that the threat of tariffs is already causing critical supply chains in industries like pharmaceuticals and semiconductors to return to the U. S.
The high tariffs on Chinese imports are reshaping supply chains and prompting businesses like Wyze Labs to consider manufacturing within the United States, highlighting the significant impact of trade policies.
https://www.zerohedge.com/geopolitical/out-60-days-us-firm-plans-china-exit-accelerated
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